Mathematical Literacy Term 1

1: Finance: Part 1

• Module overview

  In this module you will look at the concept of finance with specific focus on financial documents, taxation, tariff systems, income/expenditure, cost price/selling price and break-even analysis.
  

  You will work with complex projects in both familiar and unfamiliar contexts.

• Learning outcomes

  By the end of this module, participants will be able to:

  • Work with financial documents relating to personal/household/work place/business
    
  • Work with tariff systems
  • Identify and perform calculations involving income, expenditure, profit and loss values
    
  • Determine and work with break-even analysis.
    

  
  

• Glossary of terms

  Click on the link below to review a comprehensive glossary of terms relevant to this module of study.

• MGSLG. (2020). Finance Part 1: Glossary of Terms Page
• 
  Module 1 study materials

• MGSLG. (2020). Module 1: Finance part 1 study guide File 1.3MB
• 
  Unit 1: Financial documents, taxation and tariff systems

  Introduction

  The following areas will be focused on in this unit of study:

  • Financial documents relating to personal / household / work place / business
  • Income tax, VAT, UIF and personal income tax
  • Tariff systems.

• Learning outcomes

  By the end of this unit, you should be able to:

  • Work with VAT in the context of purchases, slips and bills
  • Work with UIF in the context of payslips
  • Work with payslips, income tax brackets, income tax formulae and tax deductions.

• Unit 1 instructions

  • Review pages 1 - 14 of your module study guide covering the theory of unit 1
  • Review the enrichment resources included as additional information
  • Individually complete all of the activities in unit 1
  • Complete your answers in electronic format using either a Word document or a Spreadsheet. Save your document / spreadsheet in the following format: Full name_Unit 1
    
  • Please note that the SAME document / spreadsheet will be used for ALL the activities in unit 1. Number your activities clearly. At the end of unit 1, your document / spreadsheet containing all the relevant activities will be submitted using the submission tool below
  • Submission instructions are included in the submission tool.

• Unit 1 enrichment resources

  View the enrichment resources detailed below. These will provide you with some additional, and topical, insight into the areas covered. Thereafter, attempt the activities.

• Videos Page
• SARS. (2021). Personal income tax URL
• Business Insider South Africa. (2021). New Eskom price plans URL
• 
  Activity submission instructions

  • Ensure that your Word document / spreadsheet is saved in the following format: Full name_Unit 1
  • ALL activities must be included in the above
  • Open the submission tool
  • Click on 'add submission'
  • Use the 'drag and drop' facility to select your file/s for upload
  • Click on 'save changes'.

• Unit 1: Activity submission tool Assignment
• 
  Unit 2: Income, expenditure, profit & loss, break-even analysis

• Introduction

  In this unit, you will focus on:

  • Selling price
  • Cost price
  • Income
  • Expenditure
  • Break-even analysis.

• Learning outcomes

  By the end of this unit, you should be able to:

  • Identify and perform calculations involving income, expenditure, profit & loss values
  • Determine break-even values.

• Unit 2 instructions

  • Review pages 14 - 20 of your module study guide covering the theory of unit 2
  • Review the enrichment resources included as additional information
  • Individually complete all of the activities in unit 2
  • Complete your answers in electronic format using either a Word document or a Spreadsheet. Save your document / spreadsheet in the following format: Full name_Unit 2
    
  • Please note that the SAME document / spreadsheet will be used for ALL the activities in unit 2. Number your activities clearly. At the end of unit 2, your document / spreadsheet containing all the relevant activities will be submitted using the submission tool below
  • Submission instructions are included in the submission tool.

  
  

• Unit 2 enrichment resources

  View the enrichment resources detailed below. These will provide you with some additional, and topical, insight into the areas covered. Thereafter, attempt the activities.

• Videos Page
• Intuit Quickbooks. (nd). Break-even analysis: How to calculate? URL
• 
  Activity submission instructions

  • Ensure that your Word document / spreadsheet is saved in the following format: Full name_Unit 2
  • ALL activities must be included in the above
  • Open the submission tool
  • Click on 'add submission'
  • Use the 'drag and drop' facility to select your file/s for upload
  • Click on 'save changes'.

• Unit 2: Activity submission tool Assignment
• 
  Module 1 summary

  In this module you:

  • Worked with financial documents relating to personal / household / work place and business
  • Worked with tariff systems
  • Identified and performed calculations involving income, expenditure and profit and loss values
  • Determined, and worked with, break-even analysis.

• Reflection

  • Learners should be afforded opportunities to define terms in their own words, as part of assessment to ensure conceptual understanding
  • Teachers must provide learners with opportunities to extract information from tables as often as possible
  • Teachers should give learners sufficient exercises on how to substitute correct values from tables (correct columns) into a given formula
  • Teachers should encourage candidates to use the LOLT always during the lessons. Scenarios should be discussed and critically analysed during lessons to give learners the opportunity to think critically and develop analytical and problem-solving skills.